U.S., China Agree to Large Tariff Cuts
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The responsibility of tackling the fentanyl issue in the United States lies within the U.S. itself, China's foreign ministry said on Tuesday, rejecting the punitive tariffs Washington imposed on Beijing for not stemming the inflow.
A day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate, China is moving to strengthen its alliances as a counterweight to President Donald Trump's trade war.
China has overtaken the U.S. in net favorability and enjoys far more support across the globe, according to a new report.
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.
U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.
U.S. bookings for container transport from China to the United States spiked almost 300% in the wake of the United States and China pausing punishing tit-for-tat tariffs, container-tracking software provider Vizion said on Wednesday.